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FTNT US​

Fortinet, Inc.(FTNT US)

$179.99+7.014.05%Ext:$179.84-0.150.08%(Market Closed · 23:57:34 UTC)

Overview

ProfileEntity Structure

Documents

SEC Filings

Financials & Metrics

FinancialsChartingShort InterestEmployees

Fortinet, Inc. — Company Profile

Fortinet, Inc. specializes in delivering extensive, unified, and automated cybersecurity solutions to a global clientele, encompassing the Americas, Europe, the Middle East, Africa, and the Asia Pacific regions. At its core, the company offers FortiGate, a powerful platform combining hardware and software licenses that provides a comprehensive suite of security and networking functionalities. This includes firewall capabilities, intrusion prevention, anti-malware defense, virtual private network (VPN) services, application control, web filtering, anti-spam measures, and wide area network (WAN) acceleration. Beyond its flagship product, Fortinet provides a diverse portfolio of specialized security tools. These range from FortiSwitch for secure network switching and FortiAP for robust wireless connectivity, to FortiExtender, a versatile hardware appliance. For centralized network visibility and control, clients utilize FortiAnalyzer for logging, analysis, and reporting, and FortiManager for scalable administration of FortiGate devices. The company further fortifies digital defenses with FortiWeb (web application firewalls), FortiMail (secure email gateways), and FortiSandbox technology, which offers proactive threat detection and mitigation. Endpoint protection is a key focus, delivered through FortiClient (featuring pattern-based anti-malware, behavior-based exploit protection, web-filtering, and an application firewall) and the advanced FortiEDR/XDR suite, which leverages machine learning for anti-malware execution and real-time post-infection defense. Additionally, FortiToken and FortiAuthenticator product families provide essential multi-factor authentication to safeguard systems and data. Fortinet's service offerings include security subscriptions, technical support, professional consulting, and training programs. Its robust security technologies are distributed both directly to end-users and through an extensive network of channel partners. The company serves a wide array of sectors, including telecommunications, technology, government, financial services, education, retail, manufacturing, and healthcare. Headquartered in Sunnyvale, California, Fortinet, Inc. was established in 2000 and maintains a strategic alliance with Linksys.

Sector
Industrials
Industry
Commercial Services & Supplies
Exchange
UQ
CEO
Ken Xie
Headquarters
Sunnyvale, CA, US
IPO Date
Nov 18, 2009
Employees
15,472
Website
www.fortinet.com

Key Metrics

Price
$182.16
Market Cap
$133.65B
Revenue (TTM)
$1.85B
Net Income (TTM)
$534.50M
EPS (TTM)
0.72
P/E (TTM)
68.38
P/B (TTM)
135.04
Dividend Yield
0.00%
ROE (TTM)
54.01%
ROA (TTM)
5.41%
Operating Margin
31.36%
Beta
1.00

Dividends

Last Dividend
$0.00
Last Yield
0.00%

Summary

Fortinet, Inc. specializes in delivering extensive, unified, and automated cybersecurity solutions to a global clientele, encompassing the Americas, Europe, the Middle East, Africa, and the Asia Pacific regions. At its core, the company offers FortiGate, a powerful platform combining hardware and software licenses that provides a comprehensive suite of security and networking functionalities. This includes firewall capabilities, intrusion prevention, anti-malware defense, virtual private network (VPN) services, application control, web filtering, anti-spam measures, and wide area network (WAN) acceleration. Beyond its flagship product, Fortinet provides a diverse portfolio of specialized security tools. These range from FortiSwitch for secure network switching and FortiAP for robust wireless connectivity, to FortiExtender, a versatile hardware appliance. For centralized network visibility and control, clients utilize FortiAnalyzer for logging, analysis, and reporting, and FortiManager for scalable administration of FortiGate devices. The company further fortifies digital defenses with FortiWeb (web application firewalls), FortiMail (secure email gateways), and FortiSandbox technology, which offers proactive threat detection and mitigation. Endpoint protection is a key focus, delivered through FortiClient (featuring pattern-based anti-malware, behavior-based exploit protection, web-filtering, and an application firewall) and the advanced FortiEDR/XDR suite, which leverages machine learning for anti-malware execution and real-time post-infection defense. Additionally, FortiToken and FortiAuthenticator product families provide essential multi-factor authentication to safeguard systems and data. Fortinet's service offerings include security subscriptions, technical support, professional consulting, and training programs. Its robust security technologies are distributed both directly to end-users and through an extensive network of channel partners. The company serves a wide array of sectors, including telecommunications, technology, government, financial services, education, retail, manufacturing, and healthcare. Headquartered in Sunnyvale, California, Fortinet, Inc. was established in 2000 and maintains a strategic alliance with Linksys.

Website
www.fortinet.com
Location
Sunnyvale, CA, US
Phone408 235 7700
Employees15,472
CEOKen Xie
Sector
Industrials
Industry
Commercial Services & Supplies
IPO DateNov 18, 2009

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Latest Documents

SEC Filings(1.8K)

Expand
  • 4STAVRIDIS JAMES G.1 Oct
  • 4GOLDMAN KENNETH A1 Oct
  • 4Hu Jean X.1 Oct
  • 4Kan Derek T.1 Oct
  • 4Napolitano Janet1 Oct
  • 4Hsieh Ming1 Oct
  • 4Sim Judith1 Oct
  • 4Ohlgart Christiane25 Sep
  • 144Ohlgart Christiane24 Sep
  • 4Whittle John16 Sep
  • 144Whittle John14 Sep
  • 4STAVRIDIS JAMES G.13 Aug
  • 4Sim Judith13 Aug
  • 4GOLDMAN KENNETH A13 Aug
  • 4Hu Jean X.13 Aug
  • 4Napolitano Janet13 Aug
  • 4Hsieh Ming13 Aug
  • 4Kan Derek T.13 Aug
  • 4Whittle John4 Aug
  • 4Xie Michael4 Aug

News

  • Fortinet, Inc. $FTNT Stock: Atlatl Advisers LLC Increases Position04:21AM
  • 10,159 Fortinet, Inc. $FTNT Shares Sold by Carderock Capital Management Inc.04:21AM
  • Fortinet growth outlook for 2027 becomes key test for investors, says Jefferies23 Oct
  • Exploring Analyst Estimates for Fortinet (FTNT) Q3 Earnings, Beyond Revenue and EPS23 Oct
  • Fortinet (FTNT) Exceeds Market Returns: Some Facts to Consider21 Oct
  • Fortinet (FTNT) Price Forecast: Support Holds as Recovery Gains Momentum21 Oct
  • Here Are Wednesday’s Top Wall Street Analyst Research Calls: Applied Digital, Chipotle Mexican Grill, Cirrus Logic, Costco, Digital Realty Trust, Intuitive Surgical, Netflix, Robinhood Markets, Zscaler, and More21 Oct
  • Diversify Advisory Services LLC Purchases 4,660 Shares of Fortinet, Inc. $FTNT21 Oct
  • Can Fortinet's SASE Momentum Propel the Stock to New Highs?20 Oct
  • CBTS and Fortinet Launch Fully Managed Secure Networking Service for Growing Mid-Market Organizations20 Oct
  • CWA Asset Management Group LLC Buys 57,379 Shares of Fortinet, Inc. $FTNT20 Oct
  • Dan Ives Sees Cybersecurity Spending Doubling: 5 Stocks That Could Benefit19 Oct
  • 4,147 Shares in Fortinet, Inc. $FTNT Bought by Onyx Bridge Wealth Group LLC19 Oct
  • IFP Advisors Inc Purchases 5,549 Shares of Fortinet, Inc. $FTNT19 Oct
  • Fortinet, Inc. $FTNT Shares Newly Purchased by B. Riley Wealth Advisors Inc.17 Oct
  • As AI Supercharges Hackers, Cybersecurity Stocks Split Into Platforms and Point Solutions17 Oct
  • 3 Reasons Why Growth Investors Shouldn't Overlook Fortinet (FTNT)16 Oct
  • Fortinet, Inc. $FTNT Stock: Barlow Wealth Partners LLC Cuts Position16 Oct
  • Fortinet (FTNT) Stock Dips While Market Gains: Key Facts15 Oct
  • Fortinet Shares Jump with Earnings on Horizon14 Oct

Mentions in Filings

  • … identity fraud protection (August 2017 – August 2022) • Cybersecurity industry consultant (2016 – 2017) • Chief Executive Officer of several software and security companies (1996 – 2016), including AccelOps (acquired by <strong>Fortinet</strong>, 2016), Moxie Software, MontaVista Software (acquired by Cavium, 2009), BlueStar Solutions (acquired by Affiliated Computer Services, 2004) and Blaze Software (acquired by Brokat Infosystems AG, 2000) • Prior executive l …
    FabrinetFortinet, Inc.·DEF 14A - Definitive proxy statement·Q2 27·20 Oct
  • … particularly Cisco Systems, Inc., Hewlett Packard Enterprise Company, and Huawei Technologies Co. Ltd. To a lesser extent, Extreme competes with products and solutions from Arista Networks Inc., RUCKUS Networks, Inc., <strong>Fortinet, Inc.</strong>, and Ubiquiti Inc. Most of these competitors have greater name recognition, larger customer bases, broader product lines and substantially greater financial, technical, sales, marketing and other resources. We expect …
    EXTREME NETWORKS INCFortinet, Inc.·ARS - Annual report to security holders·FY26·18 Sep
  • … . From 2016 to 2018, he worked as a software engineer at CGI in Halifax, Nova Scotia, focusing on enterprise software development and system implementation. From 2018 to 2019, Mr. Huang was a Machine Learning Engineer at <strong>Fortinet</strong> in Burnaby, British Columbia, where he researched and developed natural language processing models and machine learning systems for cybersecurity applications. Mr. Huang received a Bachelor of Science in Computer Science …
    Eureka Acquisition CorpFortinet, Inc.·S-4/A - AMENDMENT NO. 3 TO FORM S-4·Q4 26·14 Sep
  • … 231.140 | 4,391.66 | | | 13 | EPAM Systems, Inc. | 114.630 | 1,490.19 | | | 31 | Everpure, Inc. - CL A | 141.490 | 4,386.19 | | | 10 | F5, Inc. | 457.260 | 4,572.60 | | + | 4 | Fabrinet | 392.950 | 1,571.80 | | | 24 | <strong>Fortinet, Inc.</strong> | 184.050 | 4,417.20 | | | 70 | Hewlett Packard Enterprise Company | 63.110 | 4,417.70 | | | 149 | HP, Inc. | 30.460 | 4,538.54 | | | 7 | HubSpot, Inc. | 226.230 | 1,583.61 | | | 8 | Microsoft Corporation | 533.690 | …
    Invesco Unit Trusts Series 2502Fortinet, Inc.·487 - VKUT 2502·Q4 26·15 Oct
  • … XC Technology Company \* | | 0.10% | | 124 | | 12.54 | | 1,555 | | P | Everpure, Inc. (Class A) \* | | 0.50% | | 50 | | 155.31 | | 7,765 | | FSLR | First Solar, Inc. \* | | 0.20% | | 17 | | 179.72 | | 3,055 | | FTNT | <strong>Fortinet, Inc.</strong> \* | | 0.50% | | 40 | | 192.94 | | 7,718 | | FRSH | Freshworks Inc. (Class A) \* | | 0.10% | | 111 | | 13.92 | | 1,545 | | INTU | Intuit Inc. | | 0.49% | | 25 | | 305.99 | | 7,650 | | MSFT | Microsoft Corporation | | …
    FT 13273Fortinet, Inc.·S-6/A - AMENDMENT TO REGISTRATION STATEMENT·Q4 26·13 Oct
  • … Technology Company \* | | 0.07% | | 89 | $ | 12.54 | $ | 1,116 | | P | Everpure, Inc. (Class A) \* | | 0.34% | | 36 | | 155.31 | | 5,591 | | FSLR | First Solar, Inc. \* | | 0.13% | | 12 | | 179.72 | | 2,157 | | FTNT | <strong>Fortinet, Inc.</strong> \* | | 0.34% | | 29 | | 192.94 | | 5,595 | | FRSH | Freshworks Inc. (Class A) \* | | 0.07% | | 80 | | 13.92 | | 1,114 | | INTU | Intuit Inc. | | 0.33% | | 18 | | 305.99 | | 5,508 | | MSFT | Microsoft Corporation | | 0 …
    FT 13272Fortinet, Inc.·S-6/A - AMENDMENT TO REGISTRATION STATEMENT·Q4 26·13 Oct

Key Stats

Trading

Px/Chg 1D$182.16 / +0.67%
Prev Close$156.36
% of 52Wk H89.88%
Avg Volume6.35M
Beta1.00
Mkt Cap133.65B
FD Mkt Cap114.67B

Float

Shrs Out/Float733.71M / 618.55M
Short Float0.02%
Days to Cover1.98
Stock Repurchased$823.00M

Current Valuation

EV131.93B
EV/EBITDA49.06
EV/Sales18.56
P/B135.04
P/S18.80
FCF Yield0.75%
ROE54.01%
ROA5.41%
Current Ratio1.15

Estimates

P/E68.38
Est P/EN/A
Est EPSN/A
Est PEGN/A

Valuation

Metric5Yr AvgMay '23May '24May '25May '26Oct '26
PRICE-BASED RATIOS
Price / Earnings110.9859.6339.9446.74158.56250.05
Price / Sales29.6611.578.6413.7042.1272.26
Price / Book Value-5.19-181.52-98.9354.6164.83135.04
Price / Free Cash Flow75.3835.2726.4843.41138.95132.79
ENTERPRISE VALUE METRICS
Enterprise Value77,243.550,424.045,438.479,695.278,733.5131,926.3
Enterprise Value / Sales29.2011.418.5713.3841.3371.33
Enterprise Value / EBITDA78.6546.7830.9536.20113.33165.99
Enterprise Value / EBIT88.7051.8033.5438.34120.17199.65

Financials

Full Financials
Millions USD5Yr CAGR (%)Dec '21Dec '22Dec '23Dec '24Dec '25
INCOME STATEMENT
Revenue19.4%3,342.24,417.45,304.85,955.86,799.6
Gross Income21.1%2,559.23,332.54,067.64,798.25,497.0
EBITDA35.7%727.71,077.81,468.12,201.32,464.6
EBIT37.7%643.3973.51,354.72,078.52,312.6
Net Income32.2%606.8857.31,147.81,745.21,853.4
EPS (Diluted)35.1%0.731.061.462.262.43
BALANCE SHEET
Cash & ST Inv8.9%2,551.72,211.02,440.44,066.53,582.5
Total Assets15.1%5,919.16,228.07,258.99,763.110,389.2
Total Liabilities15.6%5,120.76,509.67,722.38,269.39,151.7
Total Shareholder Equity12.2%781.7-281.6-463.41,493.81,237.5
CASH FLOW
Net Operating Cash Flow14.6%1,499.71,730.61,935.52,258.12,590.6
Cap Ex5.4%-295.9-281.2-204.1-378.9-364.8
Free Cash Flow16.6%1,203.81,449.41,731.41,879.22,225.8

Enterprise Value Bridge

Millions USD23 Oct '26
Price (As of 23 Oct '26)179.42
Basic Shares733.71
Market Cap131,641.1
Diluted Shares742.80
Fully Diluted Shares Outstanding742.80
Fully Diluted Market Cap133,271.3
+Consolidated Debt496.8
−In-the-Money Convertible Debt—
+Capital Leases-
+Operating Leases—
−Cash & Equivalents-2,223.8
−Short-term Investments-1,071.1
+Total Preferred-
−In-the-Money Convertible Preferred—
−Investments in Unconsolidated Subs—
+Non-Controlling Interest-
+Pension Liabilities—
Enterprise Value129,914.1

Segment data

Revenue

by Products and services

  • Security Subscription39%
  • Product33%
  • Technical Support And Other29%

Revenue

by Geography

  • Europe, Middle East And Africa42%
  • Americas40%
  • Asia Pacific And Japan19%

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